I&M Bank and Centum to enhance Clients’ Mortgage Solutions

I&M BANK AND CENTUM REAL ESTATE COLLABORATE TO ENHANCE CLIENTS’ MORTGAGE SOLUTIONS

I&M Bank and Centum Real Estate (Centum RE) have entered and solidified a partnership through the signing of a Memorandum of Understanding (MOU), aiming to streamline the home purchasing process for Centum RE customers.

The signing ceremony was held at Centum RE’s offices at their iconic Two Rivers Mall and was led by Centum RE Managing Director Kenneth Mbae and I&M Bank Kenya CEO Gul Khan.

This collaboration will empower potential homeowners by providing enhanced access to mortgage financing solutions.

Under the terms of the agreement, I&M Bank will extend its support to Centum’s Diaspora clientele, assisting them in mortgage applications and facilitating equity release arrangements for home purchases.

The financing arrangement enables up to 90% financing for Kenya Shilling mortgages and up to 80% for U.S Dollar mortgages.

Notably, the interest rate for Kenyan Shilling loan facilities is set at an attractive minimum rate of 16.66% per annum.

Centum RE’s Kenneth Mbae emphasized the mutually beneficial nature of their partnerships with multiple banks, creating avenues for both diaspora and local clients to acquire properties at pre-negotiated mortgage rates.

He also noted that the partnership with I&M Bank will simplify the home purchase process for diaspora clients, who are particularly focused on verifying property quality and value.

“We are excited about our collaboration with I&M Bank, a partnership that goes beyond transactions to enhance our customers’ experience.

This synergy not only simplifies the home purchase process for our valued clients but also signifies our commitment to delivering exceptional service and value in every step of their journey with Centum Real Estate,” Mr. Kenneth added.

I&M Bank’s Gul Khan highlighted the significance of the partnership in delivering on the lender’s brand promise “On Your Side” saying, “Centum Real Estate are a right fit for us, not just because they are an industry leader, but also because their residential developments offer options to a wide customer base including up-market, mid-market and affordable housing seekers, all of whom we are committed to walking on their journey to home ownership.”

Martin Muchemi, Head of Mortgage at I&M Bank, expressed enthusiasm about the partnership, highlighting the commitment of both entities to delivering innovative mortgage solutions.

He stated, “This collaborative effort signifies our dedication to transforming homeownership dreams into reality.

It also reaffirms our commitment to providing tailored services to our valued clients at home and abroad”

I&M Bank boasts a robust Mortgage Financing offering designed to cater to diverse needs such as property purchase, undeveloped plots, construction, and renovations.

The solution provides a range of products addressing customers’ requirements in terms of loan amount, purpose, and repayment flexibility.